Currencies and Crises (Revised)

"The papers included in this collection reveal the breadth of Krugman's work in international monetary economics. . . . [This] is a book that anyone interested in international monetary economics can refer to repeatedly in the course of his or her career. As such, it ought not to gather dust on any bookshelf".
-- Andreas Savides, "The Journal of Economics" "Currencies and Crises" brings together Paul Krugman's work on international monetary economics from the late 1970s to the present, in an effort to make sense of a turbulent period that, in Krugman's words, "involved one surprise after another, most of them unpleasant". The eleven essays cover such key areas as the role of exchange rates in balance-of-payments adjustment policy, the role of speculation in the functioning of exchange-rate regimes, third world debt, and the construction of an international monetary system.